03-14-2011, 10:24 AM
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 Forexpros.com Daily Analysis - 14/03/2011
ForexPros Daily Analysis March 14, 2011
Free webinar on ForexPros and FuturesPros - The Forex and Futures Markets
Expert: Jay Wireman
Start: Thu, Mar 17, 2011, 10:00 ET
End: Thu, Mar 17, 2011, 11:00 ET
Watch how Jay identifies an explosive chart pattern that alerts you a big move is about to occur in the futures and forex markets. This leading indicator is a coil in the market and gives the day trader a heads up when the price range is getting tighter and that an ensuing explosive move is coming. This newly released indicator is a must see for anyone trading the futures and forex markets. Once plotted, it almost always leads to an explosive move in price action. This works on all markets.
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Learn what a coil in the market is and how to trade this explosive pattern
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--- Euro Dollar:
On the daily, the euro broke through its short setup after gapping up and it is on its way to hitting its target from its 50% long at 1.3747. The target is at 1.41731. The next major resistance is at the high at 1.40364.
Pound:
On the daily, the pound rebounded after hitting the 61.8% or 1.59743 of the long. The pound is currently in an extension short at 1.60935, with a target at 1.59158. The full traditional short is at 1.61591.
Yen:
On the daily, the yen spiked through the bottom of the range it has been in in the past 4 months. The importance now is whether it closes below the range. The next major resistance is the low of 80.234. The target of the 50% short at 84.093 is 78.412.
--- Forex Trading analysis written by Diana Rochford for Forexpros.
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